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What is the merchandise inventory of crane at december

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On January 1, 2017, the merchandise inventory of Crane, Inc. was $2150000. During 2017 Crane purchased $4289000 of merchandise and recorded sales of $5100000. The gross profit rate on these sales was 25%. What is the merchandise inventory of Crane at December 31, 2017?

Reference no: EM132344316

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